GAM has completed the sale of the outstanding investments in the Absolute Return Bond Fund (ARBF) range that was suspended in August 2018, with roughly 100% of portfolio value being returned to investors.
Thanking clients for their patience throughout the liquidation process, which followed the exit of portfolio manager Tim Haywood in July 2018, new group chief executive David Jacob said the business was now "fully focused on further stabilising the business for future growth". GAM explained clients had received funds in four tranches since September 2018, when the liquidation process began, which it said was "equivalent to 89% to 95% of the Luxembourg-regulated GAM Multibond and the Ireland-regulated GAM Star funds and 80% to 84% of the Cayman master funds' and the associated Cayman and ...
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